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Investing.com - RBC Capital has raised its price target on APA Corp. (NASDAQ:APA) to $25.00 from $24.00 while maintaining a Sector Perform rating on the stock.
The price target increase reflects stronger free cash flow projections driven by accelerated optimization efforts and a slightly improved production outlook from the energy company.
RBC Capital noted this marks the second consecutive quarter APA has demonstrated improved cost optimization and positive operational performance, though future enhancements are expected to occur at a slower pace.
The firm indicated that investor focus remains largely on potential strategic opportunities following unconfirmed Bloomberg reports that APA and Repsol were evaluating a combination of upstream assets.
The $1 per share price target increase specifically reflects APA’s recent improved performance, according to RBC Capital’s analysis.
In other recent news, APA Corporation reported its third-quarter 2025 earnings, surpassing analyst expectations. The company achieved an adjusted earnings per share of $0.93, exceeding the forecast of $0.79, and reported revenue of $2.12 billion, which was higher than the expected $2.01 billion. Additionally, there are reports that Repsol SA is considering a reverse merger of its upstream unit with APA Corporation, a move that could value Repsol’s upstream business at approximately $19 billion, including debt. In personnel changes, APA Corporation announced the promotion of Robert P. Rayphole to vice president, chief accounting officer, and controller, effective November 15. Rayphole will take over from Rebecca A. Hoyt, who is retiring after 33 years with the company. Meanwhile, EPIC Midstream Holdings completed the sale of its 45% operated interest in EPIC Crude Holdings to Plains All American Pipeline. This transaction is part of EPIC’s broader strategy, marking its third divestiture in the past 10 months. These recent developments are crucial for investors monitoring APA Corporation’s strategic and financial trajectory.
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